Investors in Mainland China have been closely monitoring the performance of U.S. stocks, while expressing disappointment over the lackluster performance of domestic stocks. However, despite the macroeconomic differences, there have been some notable performers in the Chinese stock market in the first half of the year. One such stock is Foxconn Industrial Internet, a key
Finance
The cryptocurrency market took a hit as bitcoin prices dropped by 5%, reaching their lowest level since February. Companies tied to bitcoin, such as Coinbase and MicroStrategy, saw a 5% decrease in premarket trading. Miners like Iris Energy and CleanSpark also experienced significant drops in their stock prices, with Marathon Digital and Riot Platforms falling
China is currently in discussions with the European Union regarding the planned tariffs on imported Chinese electric cars. The European Commission has warned that if an agreement is not reached, additional duties will be imposed on Chinese EVs starting July 4th, with definitive measures taking effect a few months later. The Ministry of Commerce in
In midday trading, media and entertainment stock Paramount Global saw a significant increase of over 9% after news broke that Skydance Media has reached a preliminary merger deal with controlling shareholder National Amusements. CNBC reported that Paramount Global’s special committee is currently reviewing and voting on the agreement. This positive development has undoubtedly captured the
Passion tourism is a phenomenon that is gaining momentum among Americans, with more and more people traveling overseas to fulfill their personal interests and passions. While traditional travel destinations like Rome and Paris remain popular, there is a new wave of travel driven by events such as concerts and sporting events. The trend is exemplified
Keith Gill, also known as “Roaring Kitty,” made headlines once again as he took a significant stake in the pet food e-commerce retailer Chewy. In a recent Securities and Exchange Commission filing, it was revealed that Gill purchased over 9 million shares of Chewy, amounting to a 6.6% stake in the company. This move catapulted
Geely, a Chinese automaker listed on the Hong Kong stock exchange, has recently caught the attention of Morgan Stanley analysts who resumed coverage of the company with an overweight rating. Despite facing challenges in a competitive market environment, Geely has shown resilience and is expected to weather macro and industry uncertainties. One of the key
The market outlook for both value and growth stocks appears to be promising in the second half of the year, according to Todd Rosenbluth, the head of research at VettaFi. While growth stocks have been performing well, value stocks have lagged behind. However, the annual rebalancing of the FTSE Russell index could potentially provide a
The rapid advancements in artificial intelligence (AI) have brought about significant transformations in various industries. However, Chinese smartphone company Honor’s CEO, George Zhao, emphasizes that these advancements are meaningless if user data is not adequately protected. In an exclusive interview with CNBC, Zhao highlighted the need for safeguarding personal data in AI operations to ensure
The stock of Walgreens Boots Alliance took a hit, dropping more than 24.5% after the company reported third-quarter earnings that fell short of Wall Street’s expectations. This news resulted in a cut to the company’s full-year adjusted profit outlook, leading to a decision to close underperforming stores to save costs. This downturn also impacted CVS,
Rivian Automotive experienced a significant boost in its stock price, soaring more than 40% after securing up to $5 billion in funding from Volkswagen Group. This initial investment of $1 billion, with an additional $4 billion expected by 2026, signaled a major vote of confidence in Rivian’s potential within the electric vehicle market. The surge
When looking at the midday trading reports, it is evident that the stock market is experiencing a mixed bag of outcomes. From SolarEdge Technologies taking a substantial hit to Carnival seeing a significant rise, investors are navigating through various developments that are impacting their portfolios. Let’s delve into some of the key highlights and trends
Inspire Medical Systems and ResMed have experienced significant drops in their stock prices, with decreases of 14% and 11% respectively. This decline came after the announcement that Eli Lilly’s weight loss drug, tirzepatide, showed promising results in reducing the severity of obstructive sleep apnea. Eli Lilly has even applied for approval from the FDA for
Recent reports have highlighted a concerning trend in the alcohol market, particularly for the prestigious Chinese brand known as “Flying Fairy.” The brand, which is a traditional Chinese baijiu liquor, has seen a significant decrease in wholesale prices in recent weeks, sparking worries about the overall economic growth. This drop in prices comes on the